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Speaker 1: It's Friday, the twenty eighth of November twenty twenty five.

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Speaker 1: Welcome to the Fast five Business News by Fear and Greed,

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Speaker 1: where we give you the top five business stories you

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Speaker 1: need to know in just five minutes. O'm Michael Thompson

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Speaker 1: and good morning Sean Aylmer.

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Speaker 2: Good morning Michael, Sean.

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Speaker 1: Five stories, five minutes, let's go sorry. Number one's a

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Speaker 1: big one. Business investment, which is a key component of

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Speaker 1: economic growth, had its biggest jump in four years during

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Speaker 1: the September quarter. Evidence is growing that the local economy

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Speaker 1: is starting to pick up a head of steam.

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Speaker 2: A boom and New Data Center's pushed new capital expenditure

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Speaker 2: six point four percent high. That was why ahead of expectations.

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Speaker 2: That is a big number in that series. Yesterday's data

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Speaker 2: feeds into next week September quarter GDP figures that will

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Speaker 2: give them a boost. Business investment really has been a

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Speaker 2: missing piece of the economic puzzle in recent years. Yesterday's

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Speaker 2: figures auger really well for growth. Now it comes as

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Speaker 2: a bunch of economic indicators and anecdotal evidence just suggests

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Speaker 2: the economy is picking up a bit of steam. Earlier

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Speaker 2: this week, the October and Fation figures were well above expectations,

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Speaker 2: triggering a winding back of any interest rate cut expectations.

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Speaker 2: Last week, the unemployment level fell from four point five

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Speaker 2: percent to four point three percent Inequity. Several retailers known

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Speaker 2: to be Harvey Norman, not all of them, but several

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Speaker 2: of them said the first quarter of this financial year

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Speaker 2: have been really good. Now, of course this week Black

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Speaker 2: Friday time by Monday sales are critical, but there's just

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Speaker 2: a sense that things are happening in the economy.

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Speaker 1: Yeah, the economy might be picking up though Sean, but

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Speaker 1: many people aren't feeling it. The cost of living crisis

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Speaker 1: hasn't gone away. Is this more about an improvement in

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Speaker 1: certain sectors like technology.

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Speaker 2: Yeah, I mean, I think that's fair comment. If you

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Speaker 2: look at the CAPEX numbers yesterday, constructions trending lower, so

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Speaker 2: too is rental hiring and real estate services, category mining

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Speaker 2: and retail trade are fairly flat. The risk is that

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Speaker 2: tech and associated sectors outperform while others around housing and

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Speaker 2: construction underperform. Inflation remains a problem. We've had three rate cuts,

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Speaker 2: given prices arising faster than the Reserve Bank once, maybe

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Speaker 2: we're headed for a raid hike. Even talk of a

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Speaker 2: rate hike can dampen any rebounds. I think you're right.

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Speaker 2: We're kind of heading towards a two speed economy at

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Speaker 2: the very least.

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Speaker 1: Okay, Story number two, The Financial Services Regulator has introduced

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Speaker 1: new restrictions limiting how much banks can lend and how

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Speaker 1: much some borrowers can receive as it grows a bit

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Speaker 1: wary of rising risks in the property market.

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Speaker 2: The Trailing Predential Regulation Authority will limit loans made by

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Speaker 2: banks for mortgages to six times the borrowers income. So

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Speaker 2: from million next year, NA more than twenty percent of

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Speaker 2: banks new mortgage lending will be available to customers borrowing

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Speaker 2: six times their income.

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Speaker 1: How does that work? Can you paint a picture?

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Speaker 2: It gives me maybe an example. So Sydney median price

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Speaker 2: nearly two million bucks, save twenty percent deposit. That's four

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Speaker 2: hundred thousand dollars. You need a bit more for stamp duty,

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Speaker 2: et cetera. But let's say two million, four hundred thousand,

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Speaker 2: you borrow one point six million fair enough to get

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Speaker 2: that loan, You're going to have to earn two hundred

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Speaker 2: and sixty seven thousand dollars a year. That is a

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Speaker 2: very very Big Income Now approchair John Lonsdale said the

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Speaker 2: regulator wasn't prepared to wait for a buildup of trouble

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Speaker 2: in the sector, especially among investors, so decided to introduce

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Speaker 2: the debt to income rule. Okay.

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Speaker 1: Story number three. The former Nationals leader Barnaby Joyce has

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Speaker 1: formally resigned from the Nationals, ending his twenty year political

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Speaker 1: parliamentary career. He's not leaving politics, He's leaving his parliamentary

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Speaker 1: career with the party clearing the way for him to

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Speaker 1: join right wing minor party One Nation.

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Speaker 2: He announced the decision and a statement to the House

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Speaker 2: of Reps yesterday afternoon. Twice leader of the NATS twice

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Speaker 2: Deputy Prime Minister, Joyce said he had not had conversations

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Speaker 2: with National's leader David Little Proud about staying in the party,

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Speaker 2: which I think is extraordinary. He said he did not

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Speaker 2: think the coalition could win the next election. He said

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Speaker 2: they shouldn't focus on winning back Teal seats. They were

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Speaker 2: pursuing the wrong strategy there. He also highlighted the shift

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Speaker 2: towards the right in many major countries, including the US.

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Speaker 2: While he didn't confirm he'll join One Nation, he did

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Speaker 2: say he was strongly considering accepting a proposal to run

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Speaker 2: as a one nation Senate candidate in New South Wales.

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Speaker 1: Okay, Story number four. Cricket Australia is aiming to raise

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Speaker 1: six hundred million dollars from the partial privatization of the

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Speaker 1: Big Bash League franchise.

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Speaker 2: The administrative body intends to sell forty nine percent of

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Speaker 2: what could eventually be ten franchises in the domestic twenty

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Speaker 2: twenty competition, according to the Australian newspaper. Now a Big

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Speaker 2: Bash League basically domestic cricket tournament, each team faces twenty overs.

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Speaker 2: If you ever have your TV on during summer, you're

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Speaker 2: going to see it. Cricket Australia will need to seal

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Speaker 2: agreements with its state bodies to realize the vision, which

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Speaker 2: values a ten team competition at one point two billion dollars.

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Speaker 2: Most potential BBL owners likely to come from India, where

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Speaker 2: the Indian Premier League has unlocked huge amounts of money

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Speaker 2: with its own twenty twenty format.

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Speaker 1: Okay, last one, Story number five. A new collection of

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Speaker 1: eight canine genomics papers Sean published this week which I'm

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Speaker 1: sure you have read every single one of them, have

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Speaker 1: found that nearly two thirds of modern dog breeds, including

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Speaker 1: even two hours, contain traces of wolf DNA.

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Speaker 2: Not much to do with business, but who cares great story.

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Speaker 2: Twenty years ago, a pure bred boxerp became the first

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Speaker 2: domestic dog to have her genome sequenced, usher a new

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Speaker 2: era of canine genetics. Scientists have now sequenced the genomes

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Speaker 2: of thousands of dogs. Researchers are bringing it all together.

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Speaker 2: According to The New York Times. Other important nuggets of

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Speaker 2: information from the dog scientists, modern dogs are more highly

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Speaker 2: inbred than previously. German shepherds particularly interesting their population tumbled

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Speaker 2: in World War Two. Most US German shepherds today can

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Speaker 2: trace their ancestry back to one dog known as Lance

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Speaker 2: of Frango, who had a sloping back, now common in

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Speaker 2: that breed. While dogs come from wolves, the two species

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Speaker 2: nowadays very rarely into breed, and apart from the mighty

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Speaker 2: which Hours, other wolf breeds include Labrador retrievers, slid dogs,

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Speaker 2: hunting dogs, and cocker spaniels.

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Speaker 1: There you go, there you go, Indeed, there we go.

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Speaker 1: The top five business stories, the top four business stories,

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Speaker 1: and one good dog story in five minutes. Thank you, Sean,

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Speaker 1: Thank you Michael. It's Friday. The twenty eighth of November

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Speaker 1: twenty twenty five. Remember to hit follow on the podcast,

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Speaker 1: and if five minutes isn't enough, you can find our

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Speaker 1: longer daily show called Fear and Greed wherever you listen

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Speaker 1: to podcasts and headlong to our website Fearangreed dot com.

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Speaker 1: Today you to sign up for our free daily newsletter.

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Speaker 1: I'll put a link in the show notes as well.

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Speaker 1: I'm Michael Thompson and that was the fast five business

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Speaker 1: news by Fear and Greed. Have a great day.